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September 27, 2000 | Bloomberg News
Rodamco North America, a Dutch owner of U.S. shopping malls, agreed to buy Urban Shopping Centers Inc., which owns the Century City Shopping Center among others, for $1.6 billion in cash and will assume $1.6 billion in debt to more than double in size and gain expertise in property services. Rodamco will pay $48 a share for Chicago-based Urban, 39% more than Monday's closing price. It will also assume about $1.6 billion in debt and $400 million in preferred securities.
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BUSINESS
September 27, 2000 | Bloomberg News
Rodamco North America, a Dutch owner of U.S. shopping malls, agreed to buy Urban Shopping Centers Inc., which owns the Century City Shopping Center among others, for $1.6 billion in cash and will assume $1.6 billion in debt to more than double in size and gain expertise in property services. Rodamco will pay $48 a share for Chicago-based Urban, 39% more than Monday's closing price. It will also assume about $1.6 billion in debt and $400 million in preferred securities.
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